Business Contact Surveys: Construction and Real Estate

January 2012

Reports from southeastern brokers indicated sales growth weakened during November on a year-over-year basis but remained positive. Builders indicated that new home sales in November rebounded, with most indicating that sales were flat to slightly up compared with a year earlier.

Southeast contacts reported that home inventories continued to decline on a year-over-year basis.

Southeast contacts continued to report downward pressure on home prices.

Southeast residential brokers indicated that buyer traffic remained above the year-earlier level in November, while half of builders reported a pickup in buyer interest.

Both builders and brokers indicated that sales growth will improve modestly on a year-over-year basis.

Southeast builders reported that construction activity improved notably, as did their outlook for activity.

Note: The poll results are based on responses from 69 residential brokers and 39 builders. Responses were collected December 5–14.